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20 Interesting Facts and Secrets About Bitcoin

Bitcoin as a Cryptocurrency has gained a fair amount of popularity, However, there are some astonishing facts related to it which is listed in this narrative. Read On!

20 Interesting Facts and Secrets About Bitcoin

1) Really Struffs Can Be Bought Using Bitcoins:-
As Bitcoin is an online currency, one may get the doubt whether this currency yields any practical use or not! It is very satisfying to know that some online stores like Newegg, Overstock etc. accept payments through Bitcoins and one can easily shop using these stores.

2) Dating Sites Are Also Accepting Bitcoins:-
OkCupid is a dating site for searching love online and it is giving the freedom to pay for its services using Bitcoin.

3) Bitcoin’s Prediction Was Done, Almost 10 Years Before Its Existence:-
It is interesting to know that renowned Economist Milton Friedman predicted Bitcoins a decade ago before it was actually invented.

4) There is only single chance to make a transaction:-
While dealing with Bitcoins, it becomes all loss or all gain situation in one go. This is because Bitcoin offers one and only chance for a transaction and they are irreversible.

5) Interesting First Transaction Of Bitcoin:-
None other than its own creator, Santoshi Nakamoto was the one who made the first Bitcoin transaction. She sent 100 Bitcoins to Hal Finney on 12th January 2009.

6) The First Stuff Purchased By Bitcoin:-
The pizza was bought with the first transaction of the Bitcoin. On May 22, 2010, Laszlo Hanyecz she paid 10,000 Bitcoins for pizza for Papa John’s Pizza. At that time, one Bitcoin worth only a few pennies.

7) Bitcoins Are Not Infinite:-
One main reason for Bitcoin being valuable is that it is limited in quantity. Therefore, some stability exists with Bitcoin because of its limited number.

8) Anonymity and Bitcoins:-
This is dangerous and exciting thing associated with Bitcoins. You can buy whatever you want using Bitcoins and your activities using Bitcoins will remain completely anonymous. This can give rise to illegal trading in future.

9) One Can Get Real Currency Using Bitcoins:-
There is a place known as Black Friday Bitcoin, where you can have the real cash for the exchange of Bitcoins. This adds one more benefit of having Bitcoins under one’s wing.

10) Existence Of Physical Bitcoins:-
Some companies are accepting the already made physical Bitcoins. These coins have digital information stored in them and the use of such Bitcoins are same as those of digital ones.

11) Banning Of Bitcoins:-
Some countries a=have banned the use of Bitcoins because people can easily buy anything illegal without any trace. This can lead to drastic illegal activities.

12) Do Not Lose Your Bitcoin Wallet:-
If your wallet is lost, there is not any way that those bitcoins will ever be retrieved by any means. Once the wallet is lost, Bitcoins are lost forever!

13) Space Travel With Bitcoins:-
Virgin Galactic gives you a chance to travel in space by paying through Bitcoins. It is the farthest place you can go using Bitcoins as the payment form.

14) Lamborghini Uses Bitcoins:-
The company, which is one of the luxurious car companies is the first one which accepted the Bitcoins in exchange for the cars.

15) Bitcoins Gained More Value Than Gold:-
In November 2013, single Bitcoin attained the value more than one ounce of gold! This proves how high the Bitcoin’s value can go!

16) First Country To Outlaw Bitcoin:-
Analysing the risk factors that are associated with this cryptocurrency, Thailand was the first country which banned the use of Bitcoins entirely.

17) Computing Power Of Bitcoins:-
It has been found that computing power of Bitcoin is 7468 times higher than the one of cumulative 500 world supercomputers which are massive!

18) Bitcoin Was Sent Into Space:-
A 3D Bitcoin model was attached to a weather balloon and was sent into space by Genesis Mining in 2016. The reason behind this step is still unknown.

19) Ransomware Attacks and Bitcoins:-
There is a considerable increase in the purchasing of bitcoins by Us Corporation in order to resolve the troubles associated with Ransomware Attacks.

20) Unbelievable amount of electricity Usage Regarding Bitcoins:-
It is estimated that the amount of electricity that is consumed in running Bitcoin Networks could run 1.3 Million homes!



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